LG Electronics Forecast to Retake No. 3 Position in Smartphone Market

SEOUL, KOREA - LG Electronics is forecast to regain the No. 3 spot in the global smartphone market. According to U.S. market research firm Strategy Analytics, Samsung Electronics and Apple Inc. will likely to continue to lead the global smartphone market, while LG Electronics is expected to chase them closely,solidifying the No. 3 spot.

 

Strategy Analytics predicted that LG Electronics is expected to sell 69.1 million smartphones this year, gaining a market share of 6.0 percent.LG Electronics,which entered the smartphone market later than rivals, shot up to the No. 3 spot in the first quarter of last year, first in its history. LG Electronics maintained its No. 3 spot in the second quarter but overtaken by Huawei and Lenovo in the third quarter.

The market research firm forecast that Huawei will likely to be overtaken by LG Electronics, slipping to No. 4. Huawei is expected to sell 56 million smartphones, with its market share likely to stand at 4.9 percent.